SKS Microfinance, reiterating its commitment to client protection by integrating customer grievance redressal into the business plan, has capped the Return on Assets (RoA) at 3% for the microfinance business. The company plans to appoint a social sector veteran as its Ombudsman by the end of December 2011 to herald a new chapter in customer grievance redressal and customer protection in the microfinance industry.
SKS, which has been demonstrating its business agility in inventing innovative solutions with quickest implementation time-frames, has also unveiled its plans to launch a wholly owned subsidiary for its non-microfinance business, seven months after diversifying into Sangam Stores, Mobile Handset Loans and Gold Loans.
The company plans to invest Rs 15 crore in the next three years in order to align its customer grievance redressal and client protection practices with globally recognised benchmarks. The investment will drive a five-pronged customer protection strategy that include, privacy of client data; transparent and responsible pricing; mechanism for redressal of grievances; avoidance of over-indebtedness among borrowers; and appropriate collection practices.
The company in order to achieve these client protection objectives will soon be appointing a panel of national and international experts who will oversee all key customer grievance redressal and customer protection initiatives. The company for the same besides, implementing up gradation of systems, processes and human resource training, would seek external validation for key client protection practices including pricing transparency, customer grievance redressal and ethical staff behavior among others. It also plans to appoint dedicated talent and realign the employee incentive system by integrating customer grievance redressal and customer protection into the KRAs.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 6910.10 |
| Shriram Finance | 2896.85 |
| Aditya Birla Capital | 183.15 |
| SBI Cards AndPayment | 675.20 |
| Mah & Mah Finl. Serv | 266.75 |
| View more.. | |
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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